Base metrics
- Operating margin
- 13.9%
- Interest coverage
- 7.5x
- Return on equity (ROE)
- 9%
$81.00-0.02%
2026-10-07 closeSPS Commerce's published financial data is dated 2026-10-04. 2024 revenue was $638M. 2024 operating profit was $89M.
Reported results
Financial safety
Reference indicatorAs of 2024Safe zoneFinancial-metric reference signal
Altman Z'' zoneZ'' 8.22
Distress
Grey
Safe
- Altman Z''
- 8.22
- Beneish M-Score
- -2.59
- Sloan accrual
- -7.79%
No statistical flag
부실·조작 위험을 나타내는 사실 지표입니다. 투자 조언이 아니며, 검증 전이라 참고용입니다.
Factual information, not investment advice.
Earnings quality · Piotroski F-Score
6/9Moderate
Piotroski measures year-over-year financial improvement, not absolute quality.
Financial improvement score6/9
Profitability
- Positive ROAPass
- Positive OCFPass
- Improving ΔROANot passed
- Accruals (OCF > net income)Pass
Leverage & liquidity
- Lower debtPass
- Higher current ratioNot passed
- No new sharesPass
Efficiency
- Higher gross marginPass
- Higher asset turnoverNot passed
Calculation note: F7(신주)은 equity/asset 유지로 근사
Already-stable companies may score lower when year-over-year improvement is limited.
Factual information, not investment advice.
Risk sensitivity — adverse assumptions
Metric changes under stated assumptions; not a forecast or investment advice.
Operating margin −5pp
TolerableInterest coverageBase 7.5x adverse case 4.8x
Return on equity (ROE)Base 9% adverse case 5.3%
Revenue −15%
TolerableInterest coverageBase 7.5x adverse case 6.4x
Return on equity (ROE)Base 9% adverse case 7.5%
Interest rate +2pp
TolerableInterest coverageBase 7.5x adverse case 5.8x
Return on equity (ROE)Base 9% adverse case 8.6%
Interest coverage limit
Current margin 12.1ppInterest coverage limit at an operating margin of 1.9%
Interest expense coverage threshold
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